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    6999 Merrill Rd Jacksonville, FL 32277

    Sponsored
    For Lease
    Contact for pricing

    Jacksonville Retail Center - Multiple Units Available

    Lot size:
    7,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional retail opportunity presents itself at Dames Pointe Plaza, a dominant grocery-anchored center located in the thriving Arlington area of Jacksonville, Florida. The property, situated at 6999 Merrill Road, zip code 32277, offers a total of 7,750 square feet of retail space currently available for lease. Multiple units are available, with a minimum divisible space of 750 square feet and a maximum contiguous space of 5,600 square feet, providing flexibility for various business needs. The property is classified as both retail and restaurant space, making it suitable for a wide range of commercial ventures. The entire 7,750 square feet is currently vacant, presenting a unique chance to establish a significant presence in a high-traffic location within Duval County. This prime location within a well-established shopping center offers excellent visibility and accessibility, ensuring high foot traffic and potential for strong business growth. The property's strategic placement within a grocery-anchored center guarantees a consistent flow of customers, creating a favorable environment for success. Interested parties are encouraged to inquire about lease terms and availability. This is an unparalleled opportunity to secure a prominent retail space in a bustling Jacksonville neighborhood.

    Property Features for 6999 Merrill Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,750 SF

    Unit(s) available at that property

    Space
    Suite 13
    Size
    1,400 SF
    Space
    Suites 8-11
    Size
    5,600 SF
    Space
    Suite 28
    Size
    1,200 SF
    Space
    Available Space 35
    Size
    10,000 SF

    We can help!

    Listing Contact
    Kelly Pulignano
    Kelly Pulignano

    Learn more

    Property Insight Report

    HighLights

    • 7,750 SF of retail/restaurant space available for lease in Dames Pointe Plaza, Arlington, Jacksonville, FL (32277).
    • Located at a signalized intersection with multiple points of access, 1.25 miles from Jacksonville University (4,213 students).
    • Divisible spaces from 750 SF to a maximum contiguous 5,600 SF.
    • Publix‑anchored center with strong co‑tenants including Hibbett Sporting Goods, Bailey's Powerhouse Gym, Truist Bank, Family Dollar, GNC, and Dunkin'.
    • High traffic counts: 15,400 AADT on Merrill Rd and 61,000 AADT on I‑295.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile Web Apps ... Website Designer Property Management Property Management Company The UPS Store Shipping And Mailing Service Dunkin' Coffee Shop Jax Crown and More Carpenter

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5813771
    Latitude
    30.3523437

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    FAQs

    What type of property is this?
    Restaurant - Jacksonville Retail Center - Multiple Units Available
    Where is this restaurant located?
    The property is located at 6999 Merrill Rd Jacksonville, FL.
    What are key features of this property?
    This property features: 7,750 SF of retail/restaurant space available for lease in Dames Pointe Plaza, Arlington, Jacksonville, FL (32277).; Located at a signalized intersection with multiple points of access, 1.25 miles from Jacksonville University (4,213 students).; Divisible spaces from 750 SF to a maximum contiguous 5,600 SF.
    Request Owner's contact information
    6999 Merrill Rd Jacksonville, FL 32277
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    Jacksonville, FL 32277
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6999 Merrill Rd Jacksonville, FL 32277
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    We can help!
    Listing Contact
    Kelly Pulignano
    Kelly Pulignano
    Real Estate License ID: FL 3370246
    Learn more
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